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Streams of accounting: Financial Accounting, Cost Accounting, Management Accounting. Management Accounting: is the process of analysis, interpretation and presentation of accounting.....
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Financial Accounting is the process in which business transactions are recorded systematically in the various......characteristics features of Financial Accounting...
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Cost Accounting is the process of classifying and recording of expenditure incurred during the operations of the organization in a systematic way.....
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Management Accounting is the process of analysis, interpretation and presentation of accounting information collected with the help of financial accounting
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Scope of Management Accounting - 1) Financial Accounting 2) Cost Accounting 3) Revaluation accounting 4) Control Accounting 5) Marginal Costing ......
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Financial Accounting protects the interests of the outsiders dealing with the organization e.g shareholders, creditors etc.....
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Financial Accounting reports are used by outside parties such as creditors, shareholders, tax authorities etc. whereas Management Accounting reports are used by managers////
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The scope of management accounting is broader than that of cost accounting...In Cost accounting, the main emphasis is on cost ascertainment and cost control....
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